The US Dollar eases on Monday as markets embrace a very quiet weekend on the geopolitical front. Tensions in the Middle East ease substantially, triggering a rally in equities. The US Dollar Index holds onto recent gains around 106.00, but downside pressure is mounting. The de-escalation provides fuel to risk assets, particularly equities, to rally higher this Monday. With the risk-on tone, the Greenback might have some further room to ease.
60 should also act as support ahead of the region with the 55-day and the 200-day Simple Moving Averages at 104.17 and 103.91, respectively. US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes.